What are the advantages of using gwei instead of gas as a transaction fee on etherscan?

3 answers

• Flores OakleyDec 20, 2022 · 3 years ago
  Using gwei instead of gas as a transaction fee on etherscan has several advantages. Firstly, gwei is a smaller unit of measurement compared to gas, which allows for more precise fee calculations. This can be particularly useful when dealing with smaller transactions or when you want to set a specific fee amount. Additionally, gwei is more commonly used in the Ethereum community, so it provides a standardized and familiar unit for users. This can help reduce confusion and improve overall user experience. Lastly, gwei fees tend to be lower compared to gas fees, making it a cost-effective option for users who want to minimize transaction costs.
  649

  325
• mahfuj ahmadFeb 07, 2024 · a year ago
  If you're new to Ethereum and etherscan, you might be wondering why gwei is used instead of gas for transaction fees. Well, gwei is actually a subunit of gas, similar to how cents are a subunit of dollars. By using gwei, it allows for more granular fee calculations, especially for smaller transactions. This means you can set a more precise fee amount, which can be beneficial if you want to control your transaction costs. Additionally, gwei is widely accepted and understood in the Ethereum community, so it provides a standardized unit of measurement that users are familiar with. Overall, using gwei instead of gas offers greater flexibility and ease of use when it comes to transaction fees on etherscan.
  710

  237
• attuNov 15, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can confidently say that using gwei instead of gas as a transaction fee on etherscan is a wise choice. Gwei offers several advantages over gas, including more precise fee calculations, standardized unit of measurement, and lower transaction costs. At BYDFi, we highly recommend using gwei for transaction fees on etherscan to optimize your overall experience. It's a simple yet effective way to ensure smooth and cost-effective transactions. Give it a try and see the difference it can make!
  538

  135